• Latest
  • Trending
  • All
Marketers Allege Manipulation in Price of Cooking Gas

Marketers Allege Manipulation in Price of Cooking Gas

Ondo Deputy Speaker and Majority Leader resign

Ondo Deputy Speaker and Majority Leader resign

Chief of Army Staff Oluyede relocates to Markurdi over Herdsmen Attacks

Chief of Army Staff Oluyede relocates to Markurdi over Herdsmen Attacks

‘How driver lost control’ – Survivor Narrates Accident that killed 22 Kano Athletes

‘How driver lost control’ – Survivor Narrates Accident that killed 22 Kano Athletes

Nigerian Government Announces Public Holidays for Sallah Celebrations

Nigerian Government Announces Public Holidays for Sallah Celebrations

The progress of Kano state is non – negotiable – Engr. Yusuf

Kano Declares 12-day Sallah Holiday for Schools

Kwara mobile court convicts 135 sanitation violators |

Kwara Law Students Appeal for Immediate Release of Law School Scholarship Funds

‘We have recovered reasonable amount’ – EFCC gives update on N1.3trn CBEX crypto fraud

‘We have recovered reasonable amount’ – EFCC gives update on N1.3trn CBEX crypto fraud

Daura v U.B.N PLC: Landmark Supreme Court Decision on ‘Estate and Debt’ Responsibilities after Death

Daura v U.B.N PLC: Landmark Supreme Court Decision on ‘Estate and Debt’ Responsibilities after Death

PROHIBITION OF RIBĀ (INTEREST-BASED TRANSACTIONS) IN ISLAMIC FINANCE: CONCEPT AND SIGNIFICANCE

PROHIBITION OF RIBĀ (INTEREST-BASED TRANSACTIONS) IN ISLAMIC FINANCE: CONCEPT AND SIGNIFICANCE

Hajj 2025: Saudi Arabia deports Sheikh Gumi back to Nigeria

Hajj 2025: Saudi Arabia deports Sheikh Gumi back to Nigeria

JUST IN: Wike seals PDP National Secretariat in Abuja

JUST IN: Wike seals PDP National Secretariat in Abuja

JAMB Announces Date to release UTME Result for resit Candidates

99% Scores Below 200 in Resit UTME – JAMB

  • About Us
  • Advertise with Us
  • Editorial Policy
Saturday, June 7, 2025
  • Login
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • Life Style
  • Advertise with Us
  • Opinion
  • Campus
No Result
View All Result
iDeemlawful
No Result
View All Result
No Result
View All Result
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • Commentary
  • Editorial
  • Campus
Home Business News

Marketers Allege Manipulation in Price of Cooking Gas

by iDeemlawful
January 17, 2022
A A
Marketers Allege Manipulation in Price of Cooking Gas
FacebookTwitterWhatsapp

*Say price rising by N550, 000 per truck

Marketers of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, have decried the continuous rise in the price of the item, saying prices now rise by N550,000 per truck daily. The marketers also alleged possible manipulation in the LPG supply system by persons who might be causing the constant increase in prices, despite the claim that the 7.5 per cent Valued-Added Tax (VAT) on imported LPG had not been activated yet.

The marketers, under the aegis of Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), told THISDAY that the cost of a truckload of LPG at the depot had risen to over N10.10 million as at last Friday, debunking the notion that prices had started dropping.

RelatedPosts

Reactions as Price of Cooking Gas crashes by 90% First in 21 Month

Fed Govt Plans Injection Of 10m Gas Cylinders In 12 States, Says Osinbajo

Cooking Gas Price Jumps By 240%, Marketers Halt Imports

Executive Secretary of NALPGAM, Mr. Bassey Essien, told THISDAY that as at Friday, they bought the product around N10.10 million per truck, even higher than what they bought the previous weeks.

Essien said when the price was coming down some weeks ago it did not drop below N9.6 million per truck, adding that the price is rising higher at the moment at the LPG terminals.

The price of LPG has been on the rise since late 2020 as a result of gas shortage due to limited in-country supply and reduction in the importation of LPG by the marketers.

Many factors are fuelling this, including inflation, forex, limited supply by the NLNG, and VAT on imported LPG that is still in limbo.

These had led to the sharp increase in the prices of LPG both at the retail level and at the depot.

At the retail level, a 12.5 kilogramme cylinder refilling unit had risen from about N3,400 early 2021 to as high as over N9,000, depending on the location. It still sold above N8, 000, THISDAY learnt.

At the depots, a truckload of the product rose from about N4 million to over N10 million, according to marketers.

Essien said, “The cost of a truck was around N9.6 million, N9.5 million and, suddenly, it went back to N10.10 million with extra N550,000 just yesterday

.“When it was going up, it was going up at the rate of N200, 000 to N500,000. The one it came down last week (penultimate week), it was coming down at N50,000. But suddenly, yesterday (last Friday), it went up by N550,000.

“May be, somebody along the line is manipulating the system, or some people along the line are not telling us the truth. The marketers buy what the terminals sell to them. So, what is going on at the terminals?

”He expressed concern over the inability of the government to categorically state its position on LPG VAT, pointing out that the terminal owners are using that as an excuse to keep hiking the price.

Tags: Cooking gas
Previous Post

Female Varsity Student Celebrates Self For Graduating as ‘Virgin’ (Photos)

Next Post

Dele Momodu Reacts to Alleged Endorse Of Tinubu’s Presidential Ambition

iDeemlawful

iDeemlawful

Related Posts

Ondo Deputy Speaker and Majority Leader resign
Featured

Ondo Deputy Speaker and Majority Leader resign

Chief of Army Staff Oluyede relocates to Markurdi over Herdsmen Attacks
Breaking News

Chief of Army Staff Oluyede relocates to Markurdi over Herdsmen Attacks

Hajj 2025: Saudi Arabia deports Sheikh Gumi back to Nigeria
Featured

Hajj 2025: Saudi Arabia deports Sheikh Gumi back to Nigeria

FULL LIST: Dangote Refinery slashes Petrol Prices across Nigeria
Business News

FULL LIST: Dangote Refinery slashes Petrol Prices across Nigeria

Court stops Senate disciplinary action against Natasha Akpoti
Featured

Akpabio, Yahaya Bello to testify as Nigerian Govt files Criminal Charges Against Natasha

Peter Obi attends Pope’s inauguration in Rome to beg Tinubu over Fidelity Bank’s N225bn Debt Crisis – Report
Featured

Peter Obi attends Pope’s inauguration in Rome to beg Tinubu over Fidelity Bank’s N225bn Debt Crisis – Report

Nigerian Senate denies viral kiss video says not one of Them
Featured

How National Assembly Illegally inserts projects worth N6.93trn into 2025 budget – Report

Nigeria Pays Back all N2.59trn IMF Debt
Business News

Nigeria Pays Back all N2.59trn IMF Debt

JUST-IN: Social Activist VeryDarkMan Arrested by EFCC
Breaking News

EFCC releases VeryDarkMan on Bail

Catholic Bishops Reply Trump Over AI-Generated Pope Image
Featured

Catholic Bishops Reply Trump Over AI-Generated Pope Image

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

iDeemlawful

Copyright © 2019–2025 Deemlawful Media

  • About Us
  • Advertise with Us
  • Editorial Policy

Connect With Us

No Result
View All Result
  • Home
  • News
  • Featured
  • Politics
  • Life Style
  • Advertise with Us
  • Opinion
  • Campus

Copyright © 2019–2025 Deemlawful Media

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In